My husband and I are so deep in financial debt that we are prepared to file for bankruptcy. We are not too concerned with the bankruptcy being on our report; we just want to know if the creditors for whom we have filed against remain on after the discharge.
2006-06-27 08:16:44 · 7 answers · asked by Louis Owens 1 in Business & Finance ➔ Credit
yes they do remain on the credit report.
2006-06-27 08:19:56 · answer #1 · answered by Anonymous · 1⤊ 1⤋
Your credit report will show bankruptcy. Most creditors will say that it has been discharged but some, especially Sears do not re-report after they know that you have filed bankruptcy. You should make sure and keep a copy of the discharge and the "list of creditors" so that in the future when you are ready to start rebuilding your credit if there are some that don't show they were discharged, you have proof. At that point, you should contact the credit bureau and let them know. Usually they can take care of it. But remember, ALWAYS keep your list of creditors because that is like gold when you go to apply for a loan afterwards.
2006-06-27 09:46:36 · answer #2 · answered by flirtyfootballfan 1 · 0⤊ 0⤋
The debts will remain on your credit report, but the creditors will need to update the entries to so that they were included in the bankruptcy.
2006-07-03 12:24:47 · answer #3 · answered by Carl 7 · 0⤊ 0⤋
They will stay on your report for 7 years after the last activity on the account, which means 7 years after the last payment you made to them.
After your BK discharge, they should all say "Included in Bankruptcy" or "IIB" on them with a balance of $0. Several months after you're discharged, order all three of your credit reports and make sure everything is showing as "IIB" with a $0 balance. Dispute everything that isn't that way. Wait several months after discharge to give them time to update your reports.
2006-06-30 05:38:23 · answer #4 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
do not carry your breath... This debt became categorized as student mortgage and already 'survived" a financial disaster. it may live on indefinitely and is no longer interior a similar classification as unsecured debt that falls off the comments interior of seven a million/2 years after first delinquency. each of the SOL's etc. do no longer contact this debt. they don't want a judgment because they could and could garnish your wages or garnish a tax go back until eventually it really is paid off. finally you'll make money and/or document a tax go back. once you dispute an merchandise with a credit bureau they are going to take it off for 30 days even as they inspect. Equifax would very well reinstate this merchandise in a month. it really is between the in straight forward words debts that could want to and could stick to you round until eventually that is paid off.
2016-11-29 20:16:01 · answer #5 · answered by ? 4 · 0⤊ 0⤋
yes they do. They will be on there always and forever! It will just read: Account included in Bankruptcy under all the accounts you included.
2006-06-27 08:20:28 · answer #6 · answered by *♥*fabulous fab*♥* 3 · 0⤊ 0⤋
here are two sites that you should take your time to read, the top one being the best one for what you are asking:
I could type it all up but then it wouldn't fit the box!
http://credit-cards.ebookorama.com
and and http://finance.ebookorama.com
2006-07-03 07:54:25 · answer #7 · answered by Anonymous · 0⤊ 0⤋